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NOAA to provide storm surge watch and warnings for hurricanes

The U.S. NOAA’s National Hurricane Center (NHC) has announced plans to launch a storm surge watch and warnings graphic, the next phase following their Potential Storm Surge Flooding Map that launched at the start of the 2014 Atlantic Hurricane Season.As we reported previously at Artemis the NHC released the freely, read the full article →

RMS works to reduce uncertainty in China typhoon risk model

Risk modelling, analytics and catastrophe risk management firm RMS has been working alongside China Property and Casualty Reinsurance Company (China Re P&C) in a project seeking to reduce uncertainty in its China typhoon risk model.A technical collaboration between RMS and China Re P&C, one of the leading non-life reinsurance companies read the full article →

U.S. storm surge risk may be greater than reinsurers (and ILS) think

A new CoreLogic storm surge study and recent findings from an analysis performed by Reuters share the same perception, that storm surge from coastal flooding is likely more prevalent than the reinsurance and insurance-linked securities markets think.According to the CoreLogic 2014 storm surge analysis roughly 6.5 million homes along the read the full article →

NOAA hurricane alerts to include storm surge forecasts

This year the hurricane alerts and forecasts sent out by the U.S. NOAA's National Hurricane Center (NHC) will for the first time include storm surge maps to show the potential for hurricane induced surge to cause flooding on the U.S. coastline.The National Hurricane Center has announced the introduction of its read the full article →

Storm surge height known 18 hours before landfall, say researchers

An interesting piece of research due to be published soon aims to prove that storm surge height is not directly correlated to hurricane, or storm, wind speeds at the time of landfall, rather it is the intensity and size of the storm 18 hours prior to landfall that matters.Researchers Hal read the full article →

New York MTA seeking support for potential future cat bonds

First Mutual Transportation Assurance Co. (FMTAC), the New York State-licensed captive insurer subsidiary of the New York Metropolitan Transportation Authority (MTA), is seeking support in connection with potential future catastrophe bond transactions it may sponsor.The MTA, responsible for much of the transport systems in New York State, and its captive read the full article →

MetroCat highlights capital markets support for bespoke ILS solutions: GC Securities

The successful issuance of the first storm surge catastrophe bond in the insurance-linked securities markets history, MetroCat Re Ltd. (Series 2013-1), highlights the ability of capital market investors to strongly support bespoke ILS solutions, according to bookrunner, joint structuring agent and lead manager on the deal, GC Securities.Catastrophe bond investors read the full article →

RMS launch hurricane model v13, use for MetroCat Re risk analysis

RMS has launched a new version of its North Atlantic hurricane model suite, version 13.0. The new version will give users the ability to fully analyse and quantify the risks from hurricane driven storm surge risks and the model has already been used in a catastrophe bond deal, the first read the full article →

MetroCat Re completes at $200m. MTA pleased, but may have liked more

The MetroCat Re Ltd. (Series 2013-1) catastrophe bond, which is the first cat bond in the markets history to bring storm surge risk alone in a transaction to insurance-linked securities investors, has completed successfully at $200m, received its final rating and the notes and program have listed in Bermuda.The successful read the full article →

Storm surge cat bond MetroCat Re increases in size, prices below guidance

The insurance-linked securities markets first ever storm surge catastrophe bond has been extremely well-received by investors with demand helping the deal to increase in size and enabling the sponsor, First Mutual Transportation Assurance Co. (FMTAC) to secure the fully-collateralized reinsurance protection at attractive pricing terms.The cat bond, MetroCat Re Ltd. read the full article →